The Sensex slipped as much as 0.5 percent early Thursday, with RIL, ITC and Hero MotoCorp leading the losses. The broader 50-share NSE index was down 0.6 percent to 5,207.40.
Hero MotoCorp slipped more than 5% in early trade to touch a low of Rs 2,111.15 after the two-wheeler manufacturer reported profits below street expectations. Its adjusted operating profit margin was broadly flat on a YoY basis at 12% in the fourth quarter of FY12, while net sales grew 11.9% in the quarter.
Shares of sugar companies such as Balrampur Chini Mills, Shree Renuka and Bajaj Hindustan increased over 4% in early trade after the government removed the cap on sugar exports and placed the commodity under the open general licence (OGL) category.
Indraprastha Gas (IGL) rose 1.6% to Rs 227.50 in early trade, ahead of a hearing on an IGL petition, challenging an order of the Petroleum Natural Gas Regulatory Board on network tariff and compression charge, scheduled for later today in the Delhi High Court.
Shares of ACC, Ambuja Cement slipped nearly 1% after the cement manufacturers reported a growth in production at 2.17 million tonnes and 1.91 million tonnes, respectively, for the month of April.
At 9:20 a.m., the 30-share BSE index was trading 0.5% lower at 17,201.16 points led by losses in RIL (0.4%), ITC (0.6%) and Hero MotoCorp (5.3%).
The BSE Auto Index slipped 1.3%, the BSE Realty Index dropped 0.7% and the BSE Metals Index fell 0.7%.
Top Sensex gainers include Cipala, which was trading 1.1% higher at Rs 320.95, and BHEL, up 0.9%.
Hero MotoCorp slipped more than 5% in early trade to touch a low of Rs 2,111.15 after the two-wheeler manufacturer reported profits below street expectations. Its adjusted operating profit margin was broadly flat on a YoY basis at 12% in the fourth quarter of FY12, while net sales grew 11.9% in the quarter.
Shares of sugar companies such as Balrampur Chini Mills, Shree Renuka and Bajaj Hindustan increased over 4% in early trade after the government removed the cap on sugar exports and placed the commodity under the open general licence (OGL) category.
Indraprastha Gas (IGL) rose 1.6% to Rs 227.50 in early trade, ahead of a hearing on an IGL petition, challenging an order of the Petroleum Natural Gas Regulatory Board on network tariff and compression charge, scheduled for later today in the Delhi High Court.
Shares of ACC, Ambuja Cement slipped nearly 1% after the cement manufacturers reported a growth in production at 2.17 million tonnes and 1.91 million tonnes, respectively, for the month of April.
At 9:20 a.m., the 30-share BSE index was trading 0.5% lower at 17,201.16 points led by losses in RIL (0.4%), ITC (0.6%) and Hero MotoCorp (5.3%).
The BSE Auto Index slipped 1.3%, the BSE Realty Index dropped 0.7% and the BSE Metals Index fell 0.7%.
Top Sensex gainers include Cipala, which was trading 1.1% higher at Rs 320.95, and BHEL, up 0.9%.
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